Although we await the detail next week this looks very positive indeed and I feel confident in saying the future for TUFC looks a lot brighter this morning than for a very long time.
"Under the terms of the deal a company voluntary arrangement has been entered into which would see all tax debts and trade creditors paid in full within six months."
No money for Osborne.
Shame.
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"Under the terms of the deal a company voluntary arrangement has been entered into which would see all tax debts and trade creditors paid in full within six months."
No money for Osborne.
Shame.
Not so sure about that, it seems according to the small print the Torquay United AFC Ltd will continue to run the club with the Bryn consortium being the major shareholder, I hope that does not mean that Edawrds and Hayman stay in post.
culmstockgull wrote: ↑10 May 2024, 12:46
Not so sure about that, it seems according to the small print the Torquay United AFC Ltd will continue to run the club with the Bryn consortium being the major shareholder, I hope that does not mean that Edawrds and Hayman stay in post.
is this not how it always works? you own a piece (or all) of the TUAFC company and that allows you to control it.
culmstockgull wrote: ↑10 May 2024, 12:46
Not so sure about that, it seems according to the small print the Torquay United AFC Ltd will continue to run the club with the Bryn consortium being the major shareholder, I hope that does not mean that Edawrds and Hayman stay in post.
Torquay United AFC Ltd is the club as a whole. Osborne's company (Riviera Stadium Limited) owned the majority of the shares in that which will likely all be transferred over to the new ownership, the rest of the shares are owned by other/individual shareholders.
TUFCfan wrote: ↑10 May 2024, 13:19
Torquay United AFC Ltd is the club as a whole. Osborne's company (Riviera Stadium Limited) owned the majority of the shares in that which will likely all be transferred over to the new ownership, the rest of the shares are owned by other/individual shareholders.
Thank you, that makes sense, I just want the old guard gone and a fresh start.
Must say I'm delighted. Lets all get fully behind Bryn. Thanks very much Bryn for all the hard work done in such a short time. I really doubted you could get this done in time. You can count on me putting my hand in my pocket.